Alhabeeb, 1999 (2)

Alhabeeb, M. J. (1999). Allowances and the economic socialization
of children. Financial Counseling and Planning, 10 (2), 1-9.

Allowances
And The Economic Socialization Of Children

This paper delineates a conceptual scheme of children’s allowances,
characterizes the underlying parental rationales, and describes the mechanism
of children’s economic socialization. The origin, meaning, purpose, conditions,
and types of allowances, as well as the diversity of family philosophies
on children’s money are examined. The professional perspective on allowances
is reviewed, and recommendations for potential financial lessons are offered.

Key Words: Adolescent spending, Allowances, Children and
money, Economic socialization.

1. M.
J. Alhabeeb, Associate Professor, Department of Consumer Studies, University
of Massachusetts, Amherst, MA 01003. Phone: 413-545-5010. Fax: 413-545-4410.
E-mail: mja@constudy.umass.edu